According to Techub News, Hemi Labs, co-founded by Bitcoin developer Jeff Garzik, announced the completion of US$15 million in financing, led by Binance Labs, Breyer Capital and Big Brain Holdings. Participants include Crypto.com, Web3 Ventures, HyperChain Capital, Alchemy, SALT Fund, Kelly Investments, Sunflower Capital, DNA Fund, Gate Ventures, Quantstamp, TRGC, BTC INC, Artichoke Capital, Cypher Capital, SNZ Holding, C6E, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, and individual investors include Jihan Wu, George Burke and Sonny Singh.
The funds raised will be used to develop and launch the modular blockchain Hemi Network. Hemi Labs said that Hemi Network combines the characteristics of Bitcoin and Ethereum, with both the security of Bitcoin and the liquidity and programmability of Ethereum. Currently, the Hemi Network test network is online and the mainnet is planned to be launched in the fourth quarter.
